22 Apr 2025
1. ) Kerk Han Meng [Notice Of Discontinuance At Encl. 27] 2. ) LEE YU MENG 1. ) Sim Chin Hu [Notice Of Cross Appeal At Encl. 5] 2. ) KUA CHIN WEE 3. ) CJ POLYMERS SDN BHD
- Citation
- W-02(NCC)(A)-2148-11/2022 (Mahkamah Rayuan)
- Court
- NCC
- Case number
- W-02(NCC)(A)-2148-11/2022 (Mahkamah Rayuan)
The Court of Appeal affirmed the High Court finding that a quasi‑partnership existed between Sim and Kerk which survived the admission of new shareholders, that Sim was unfairly excluded from management and deprived of shareholder benefits constituting oppression under s.346, and that a buyout order (with valuation by an independent valuer) and restitutionary monetary orders were appropriate; the court varied the buyout order to require the other shareholders (not the company) to purchase Sim's shares and allowed Sim's cross‑appeal to include the 1.5% transfer in calculating his buyout stake.